Crossmark Global Holdings Inc. Acquires 79,888 Shares of Etsy Inc $ETSY

Key Points

• Crossmark Global Holdings boosted its Etsy stake by 338.4% in the fourth quarter, buying 79,888 additional shares to bring its total holding to 103,497 shares worth about $5.74 million.
• Insider selling picked up, with CEO Josh Silverman selling 88,350 shares and CFO Charles Baker selling 2,030 shares; insiders have sold 278,569 shares over the last 90 days.
• Etsy shares and analyst sentiment remain mixed: the stock recently traded at $64.33, and analysts currently have a consensus “Hold” rating with an average price target of $70.09, though several firms recently raised their targets.

Crossmark Global Holdings Inc. lifted its holdings in Etsy Inc (NYSE:ETSY - Free Report) by 338.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,497 shares of the company's stock after purchasing an additional 79,888 shares during the quarter. Crossmark Global Holdings Inc. owned 0.10% of Etsy worth $5,738,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ETSY. Sequoia Financial Advisors LLC bought a new stake in Etsy during the 4th quarter worth about $242,000. Lmcg Investments LLC grew its holdings in shares of Etsy by 6.6% in the 4th quarter. Lmcg Investments LLC now owns 71,320 shares of the company's stock valued at $3,954,000 after acquiring an additional 4,409 shares in the last quarter. VELA Investment Management LLC acquired a new stake in shares of Etsy in the fourth quarter valued at about $1,113,000. Hussman Strategic Advisors Inc. increased its position in shares of Etsy by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company's stock valued at $4,657,000 after acquiring an additional 42,000 shares during the last quarter. Finally, Danske Bank A S raised its holdings in Etsy by 30.0% during the fourth quarter. Danske Bank A S now owns 1,300 shares of the company's stock worth $72,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 99.53% of the company's stock.

Insider Activity at Etsy

In other news, insider Josh Silverman sold 88,350 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $64.18, for a total transaction of $5,670,303.00. Following the completion of the sale, the insider owned 130,694 shares in the company, valued at approximately $8,387,940.92. This trade represents a 40.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles Baker sold 2,030 shares of Etsy stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $63.50, for a total transaction of $128,905.00. Following the sale, the chief financial officer directly owned 6,913 shares of the company's stock, valued at $438,975.50. The trade was a 22.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 278,569 shares of company stock valued at $17,724,416 in the last ninety days. Company insiders own 2.50% of the company's stock.

Etsy Price Performance

Shares of NYSE ETSY opened at $64.33 on Monday. Etsy Inc has a 12 month low of $44.00 and a 12 month high of $76.51. The business's 50 day simple moving average is $56.14. The company has a market cap of $6.10 billion, a P/E ratio of 26.81, a P/E/G ratio of 5.74 and a beta of 1.89.

Etsy (NYSE:ETSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Etsy had a negative return on equity of 28.60% and a net margin of 9.94%.The business had revenue of $881.64 million for the quarter. On average, equities analysts predict that Etsy Inc will post 3.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Cantor Fitzgerald raised their price target on Etsy from $51.00 to $59.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Needham & Company LLC upped their price objective on Etsy from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Raymond James Financial reissued an "outperform" rating and issued a $75.00 target price on shares of Etsy in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Etsy from $74.00 to $75.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. Finally, UBS Group increased their price target on shares of Etsy from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $70.09.

Etsy Company Profile

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

Want to see what other hedge funds are holding ETSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Etsy Inc (NYSE:ETSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.